Russneft’s Ulyanovsk Group to Increase Oil Production by 30%.
Russneft works in six areas of the Ulyanovsk oblast, namely Nikolaevsky, Novospassky, Melekessky, Cherdaklinsky, Novomalyklinsky and Radischevsky districts. According to the Company’s Public Relations Service 2004 total production volume of the Ulyanovsk group, including Ulyanovskneft OAO, SP Nafta-Ulyanovsk ZAO, Nefterazvedka OAO, exceeded 600 thousand tons of crude oil. In 2005 the Ulyanovsk group will bring its oil production to 800 thousand tons, and in 2006 to 1.2 million tons of crude oil. On average in 2005 Russneft’s Ulyanovsk group is going to increase its oil production by 30 percent as compared with the last year.
Presently Russneft is implementing its medium-range investment program for 2004-2006 and the five year plan of explorations. Special attention will be paid to the all-round development of the Cherdaklinsky district and the first-stage exploration in the areas of Novospassky and Radischevsky districts. In December 2004 a 14 km pipeline named Novospasskoye-Klin was laid and commissioned. It was the first step made by the Company towards creating a modern production infrastructure at its oilfields. The total volume of tax proceeds into the budget of the oblast will amount to 1.7 billion rubles.
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All Show allRussNeft increases oil production in the first half of the year by almost 2%
up to 3.043 million tons
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